WPCS is a design-build engineering company that has two arms: One arm focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. The second arm is a wholly owned subsidary, btxtrader, that facilitates 90% of the bitcoin trade on the top 6 of the world's bitcoin exchanges.

What we do:

1. Wireless Communication: WPCS can design your wireless network and provide the technology integration necessary to meet goals for enhanced communication, increased productivity and reduced costs. We have the engineering expertise to utilize any facet of wireless technology or combination of various technologies to develop a cost effective network for a customer's wireless communication requirement. Customers have come to trust the quality workmanship and commitment to customer satisfaction that WPCS provides.

2. Specialty Construction: As global energy demand rises, resources must be expanded. WPCS supports the development and delivery of energy solutions. World economies are growing, standards of living are improving and energy supplies are dwindling. It's a scenario that has accelerated the search for new energy sources and better ways of delivery existing supplies. WPCS designs and deploys renewable energy solutions as well as support companies that wish to maximize the efficiency of their energy supply infrastructure by providing a range of pipeline trenching solutions.

3. Electrical Power: Corporations, government entities, healthcare organizations and educational institutions depend on the reliability and accuracy of voice, data and video communications. But, the potential for this new technology can't be realized without the right electrical infrastructure. Technology convergence is a WPCS specialty. We create integrated building systems, including the installation of advanced structured cabling systems and electrical networks. WPCS supports the integration of telecommunications, fire protection, security and HVAC in an environmentally safe manner. We also design for the future, by building in capacity for expansion as new capabilities are added.

4. Bitcoin Trading Platform: www.btxtrader.com. BTX Trader, which was wholly acquired by WPCS on Dec 17, 2013, is the first trading platform in the world to enable Bitcoin traders and industry researchers to access market data and execute orders on the five most popular Bitcoin exchanges in a single application.

"Bitcoin is a digital or virtual currency that was created in 2009 and which uses peer-to-peer technology to facilitate instant payments. Bitcoin is a type of alternative currency known as a cryptocurrency, which uses cryptography for security, making it difficult to counterfeit. Bitcoin issuance and transactions are carried out collectively by the network, with no central authority, and allows users to make secure, verified transfers. BTX has developed and is currently beta testing a trading system to offer bitcoin traders advanced charting, trading blotters, and trading integration across five of the major bitcoin exchanges, which will allow users to see liquidity, route orders, identify arbitrage opportunities across all platforms, and to control trading risks with access to stop loss orders. The BTX business is intended to become a data and service provider for users and exchanges of bitcoin, but is not presently a bitcoin exchange itself (although the Company may determine to invest in and develop a bitcoin exchange in the future). Obviously, there can be no assurance that the Company or bitcoin in general, will be successful, but we think that it presents the best opportunity for WPCS at this time.

There has certainly been a significant amount of press about bitcoin recently, and the growing ecosystem of companies around it, as well as the investments by venture capital firms and others in bitcoin ventures. More and more vendors are accepting bitcoin, governments and regulators are creating more rules to deal with it, and the bad actors associated with bitcoin’s early days are being weeded out by law enforcement as legitimate users move in.

We are very excited about bitcoin and being on the forefront of what we, and other experts see, as a growing space. The opportunities that bitcoin creates, both as an asset class, a currency, and a money transfer mechanism, are an important disruption in the financial space. We believe that we can capture a share of the growing market through best-of-breed technology and a differentiated feature set.

BTX Trader is a company founded by two engineers and bitcoin enthusiasts who formerlyworked onfront-office trading software at Goldman Sachs. While they are the technology and development experts, we are currently launching a search for a seasoned executive to become President of BTX.

BTX Trader will initially be focused on two product categories within the bitcoin space: trading systems and exchanges. The trading system is a cloud-hosted service that is in an early beta stage. It incorporates some high-end features traders may be familiar with from other asset classes, including advanced charting, trading blotters, and consolidated level 2 order books. It is currently the only product that offers trading integration against all of the major bitcoin exchanges, allowing users to see liquidity across all platforms, route orders to the best platforms, and identify possible arbitrage opportunities across platforms. Additionally, it allows users to place synthetic stop loss orders against those exchanges, a badly needed insurance given bitcoin’s current volatility, which is not a feature available on any other current software. Our current business strategy is to continue to implement advanced trading algorithms for bitcoin traders, of the sort available in best-of-breed software for other asset classes on Wall Street but nowhere to be found in the bitcoin world.

The software is currently implemented as a Windows client program, and it is backed by a sophisticated server in the cloud, exposing an application programming interface for other clients. We intend to follow on our Windows client with web-based and mobile platforms for easy use by consumers.

The second prong of our strategy is to open a bitcoin exchange to allow low-latency execution of trades in bitcoin. We hope to launch such an exchange in the coming months, opening first in a jurisdiction where the regulations surrounding bitcoin are clear, with the ultimate goal of moving into the United States once we can resolve legal and regulatory questions with a certainty of compliance.

We are excited about this acquisition. The financing provided with the acquisition of BTX Trader will allow us to execute on the initial stages of BTX’s strategy, with the priority of building a truly first-class set of technologies and services for this growing and disruptive industry. To the best of our knowledge, WPCS appears to be the first public company involved in the Bitcoin business, and we believe we BTX will be perfectly positioned for strategic opportunities in the bitcoin space.

In closing we are very encouraged by the improvements that have been made and will continue to make to improve WPCS’ balance sheet and profitability. And we are excited about bitcoin and the prospect offered by BTX to participate in a quickly evolving marketplace, as one of the first publicly traded companies to make an early entrance into the bitcoin space. Although there are numerous risks, we believe that the software platform being developed by BTX will support the opportunities to advance bitcoin as an asset class, currency, money transfer mechanism, and important alternative in the financial markets space.

Operationally, at the end of the second quarter, Oct 31, 2013, WPCS had a backlog of approximately $25.4 million in orders to fulfill and a bid list of $40 million. We believe the market continues to offer the types of bid opportunities that maximize our engineering capabilities with the public services and healthcare markets continuing to be the most active. From Dec 19 2013 most recent cc:

Mr. Giordano contributes expertise in areas of restructuring, operations, finance, strategic planning and business development. He has over 25 years of experience as a board member and senior executive. Mr. Giordano has held senior positions with ITT Continental Baking Company, AMF Incorporated, Dynamics Corporation of America and IPCO Corporation. He has extensive experience in analyzing business units engaged in manufacturing, distribution and retail sectors across multiple industries including food service, healthcare, consumer and industrial products. He received his undergraduate degree and MBA from Iona College.

Joseph Heater | Chief Financial Officer

Mr. Heater is responsible for the company's financial management and financial reporting functions. As a CPA, Mr. Heater has over twenty years of financial management experience specializing in financial controls, SEC reporting and mergers & acquisitions. Formerly, Mr. Heater was the director of financial planning and analysis and assistant corporate controller for multi-billion dollar Airgas Incorporated where he was involved with the due diligence and accounting integration of several acquisitions. In addition, Mr. Heater was a manager of audit and business advisory services for Arthur Andersen. Mr. Heater holds a Business Administration degree from the University of Nebraska and an MBA from Villanova University. He is also a member of the American Institute of Certified Public Accountants.